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The Relative Strength Index (RSI) is an momentum indicator that measures the degree of price change to gauge a market’s OVERBuy or OVER-SELL conditions. The RSI indicator is displayed as an oscillator – a chart of moving lines between two limit levels measured on a scale from 0 to 100. RSI was developed by J. Welles Wilder published in the book. New Concepts in Technical Trading Systems 1978 and Modern Trader (now Futures) in the June 1978 issue. Securities but also most other financial markets such as Futures market, Forex market… Make it one of the most popular technical analysis indicators.
Buy when the RSI is 20 and Sell when the RSI is 80. This is the default parameter of the EA you can adjust it yourself.
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